[General Battuta]

If your currency value can be destroyed a Goon fakeposter I think there is a problem with your currency

[Janos]

If your currency value can be destroyed a Goon fakeposter I think there is a problem with your currency

GEORGE SOROS FALSE FLAG

[Janos]

rock solid



... okay.

[sigtau]

I understand the giant sag in the graph in the first image, but can you clarify the meaning and significance of the second image?

[Ghostavo]

Someone was selling a quarter of a million bitcoins (out of a couple million total in circulation, so a significant percentage) at a price of 0.01 "something" which, as anyone can imagine, caused the value of the bitcoin to spike downward.

[Luis Dias]

Now why would anybody dump 4 million dollars in a second?

[The E]

Apart from attempts to devalue a currency?

[NGTM-1R]

Now why would anybody dump 4 million dollars in a second?

Sabotage.

[StarSlayer]

I can't stand it
I know you planned it
I'm set it straight this watergate

[sigtau]

Perhaps there should be some kind of limit on transaction volume?

That being said, the more holes they identify in the entire concept of an online and unregulated currency, the worse and worse this is beginning to look.

[Bobboau]

I like that it exsists. If nothing else it is a very cool experiment.
I need to write a program that auto buys bitcoins when ever their value bottoms out.

[Janos]

Perhaps there should be some kind of limit on transaction volume?

That being said, the more holes they identify in the entire concept of an online and unregulated currency, the worse and worse this is beginning to look.

Unregulated? It's not. It has a ****load of arbitrary rules.

For example one dude has 700 000 $ worth of bitcoin. In MTGox you can only sell 1000$ worth of bitcoin per day. HAVE A NICE TWO YEARS

[Luis Dias]

Apart from attempts to devalue a currency?

Yeah ok, so you devalued the currency. You still lost 4 million dollars. How are you gonna make up for it?

[Admiral LSD]

 

[The E]

Apart from attempts to devalue a currency?

Yeah ok, so you devalued the currency. You still lost 4 million dollars. How are you gonna make up for it?

That's assuming you went into it with an investment of 4 million dollars. And it's also assuming that whoever did that actually cared; if it is a deliberate sabotage attempt, that assumption is probably null and void.

[Luis Dias]

I don't get it. If you tried to sell it at current trade prices, you'd get 4 million dollars back.

And I get that people may be more worried about sabotaging the currency. What I don't get is why would one person dump 4 million dollars to the garbage to porsue such nihilistic enterprise.

[Unknown Target]

Well, if they saw it as a threat and $4 million was a relatively small sum for them, I could see why they would do that.

[NGTM-1R]

I don't get it. If you tried to sell it at current trade prices, you'd get 4 million dollars back.

It's likely that whoever did this A: did not invest much, if any, actual money into bitcoin, B: did not regard those dollars as real to begin with, since as already mentioned in this thread it's not possible to simply convert 4mil worth of bitcoins to 4mil worth of cash within a reasonable timeframe, C: regarded the entire currency as illegitimate or simply stupid to begin with, and therefore worth less than nothing, and D: always intended to do this, and never wanted 4mil.

[StarSlayer]

Some men just want to watch the world burn.

[Klaustrophobia]

or possibly in this case attempt to bring a small amount of sanity back to it.